- XRP is trading at $0.253 after a 4.5% price increase in the past 24 hours.
- Similar to other cryptocurrencies, the cross-border payments giant had a spike thanks to PayPal.
It seemed that XRP was left behind as Bitcoin continued climbing towards and above $12,000. However, in the past 24 hours, the digital asset has risen from $0.242 to a high of $0.255. More importantly, it seems that the price is close to a critical resistance level.
If XRP cracks this significant level, it can jump 15%
It seems that XRP formed an ascending triangle on the daily chart and the price is close to the upper boundary. Bulls have already conquered the 50-SMA on the daily chart, turning the moving average into a support level.
XRP/USD daily chart
The 100-SMA is the next price target as bulls hope to close above it. The MACD is inches away from turning bullish again as XRP approaches the critical resistance level at $0.26. A breakout above this level can easily drive the price of the digital asset towards $0.3.
XRP/USD 4-hour chart
On the 4-hour chart, XRP has crossed above the 200-SMA, 100-SMA, and 50-SMA, turning all three moving averages into support levels. The MACD remained bullish since the re-test of the lower boundary on October 16. There are no resistance levels until the upper trendline of the daily pattern at $0.26.
XRP/USD 12-hour chart
On the other hand, the 12-hour chart shows a strong resistance point at $0.255 where the 200-SMA stands. So far, the price has been rejected from this level and could turn the MACD bearish again. The next price target for the bears would be where the 100-SMA and the 50-SMA coincide at $0.245.
Critical price levels to keep in mind
A bullish breakout above the upper boundary of the ascending triangle pattern formed on the daily chart at $0.26 can drive XRP towards $0.3. On the flip side, the rejection from the 200-SMA on the 12-hour chart can push the digital asset down to $0.245.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.